Commentary

Ronald Jordan
Traders Magazine Online News

Understanding Your Data is No Longer Optional

In this contributed article from Global Markets Advisory Group, the advisory discusses the importance of data and how organizations should augment existing skill sets and capabilities to add a data-focused perspective to their operating fabric.

Traders Poll

Do you expect SEC Chairman Jay Clayton to push for regulation in the cryptocurrency issuance and trading markets?

Yes

74%

No

5%

The CFTC will push for regulation

21%

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April 30, 1998

Alternative Trading

By John A. Byrne

When the Securities and Exchange Commission announced potential ground-breaking proposals on the regulation of alternative or private trading systems, the reaction was dull.

The proposals, however, should not be overlooked, raising the possibility, for instance, that a major Nasdaq trading firm will establish its own stock exchange.

The SEC proposes to give alternative trading systems more choices on how they are regulated, and to provide brick and mortar stock markets a chance to compete with these ambitious electronic networks.

The proposals, which should come before the agency for final approval by year's end, require screen-based systems to register with the SEC either as stock exchanges or as broker dealers. More requirements would be added if volume rises.

The proposals give Nasdaq and the New York Stock Exchange an opportunity to developed their own systems unhampered by the SEC for two years, unless their systems exceeded certain trade volumes. The same proposals apply to alternative trading systems that elect to be regulated as exchanges.